Ho Chi Minh City sees youth potential for business growth
Dynamic youth are likely to help Ho Chi Minh City realise its goal of doubling the number of enterprises in 2020, visiting senior advisor to the US Secretary of State David Thorne said.
Secretary of Ho Chi Minh City's Party Committee Dinh La Thang (R) welcomes senior advisor to the US Secretary of State David Thorne(Photo: VNA)
Ho Chi Minh City (VNA)🉐 – Dynamic youth are likely to help Ho Chi Minh City realise its goal of doubling the number of enterprises in 2020, visiting senior advisor to the US Secretary of State David Thorne said to local authorities on March 8.
Thorn said his visit is part of a US programme to assist ASEAN countries, including Vietnam, in promoting business and innovation.
He expressed his appreciation for the southern city’s support for the construction of a Fulbright University here.
He said he would try to make sure that President Barack Obama will visit the south and Ho Chi Minh City as part of his trip to Vietnam in May.
Ho Chi Minh City welcomes Obama’s upcoming visit, Secretary of the municipal Party Committee Dinh La Thang said, taking note of growing relations between the two nations – particularly after a visit to the US by Party General Secretary Nguyen Phu Trong in July last year.
Ho Chi Minh City pay heeds to cooperation with US localities and enterprises, he added.
According to Thang, the southern hub is home to more than 266,000 companies, which accounts for half of all Vietnam businesses. Aiming to double the number by 2020, local authorities have committed to promoting links in innovation and creativity while supporting start-ups, especially that of young people.-VNA
An event to promote links in innovation and creativeness between Vietnam and the US was jointly held by the Ministry of Science and Technology and the US Embassy in Vietnam, in Hanoi on March 7.
Sharing the US’s experience in business development, senior advisor to the US Secretary of State David Thorne said the first important thing is a favourable policy environment.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Secretary of Ho Chi Minh City's Party Committee Dinh La Thang (R) welcomes senior advisor to the US Secretary of State David Thorne(Photo: VNA)
